Ethical Theories Fall Within Two Broad Domains: ______

question 24

Multiple Choice

Ethical theories fall within two broad domains: ______.

• A) consequences and duty
• B) ethical and unethical
• C) conduct and character
• D) duty based and virtue based

Understand the effects of tariffs on international trade.

Analyze the impact of trade policies on consumer and producer surplus.

Identify how tariffs influence domestic prices and quantities in international markets.

Evaluate the implications of free trade versus protectionist policies.

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Definitions:

Necessary

In legal and philosophical terms, necessary refers to something required, indispensable, or absolutely needed to achieve a certain outcome or fulfill a condition.

Rescission

The process of formally terminating a contract, returning all involved parties to their pre-contractual state, often due to mistakes, fraud, or misrepresentation.

Punitive Damages

Compensation awarded to a plaintiff beyond actual damages, intended to punish the defendant for particularly harmful actions and deter similar future conduct.

Misrepresents

The act of providing false, misleading, or incorrect information about a material fact, intentionally or otherwise.